LifeVantage Corporation (Nasdaq:LFVN) today reported financial results for its fourth quarter and full year ended June 30, 2017.
LifeVantage is a Tripple A classified opportunity by Business For Home.
“We finished fiscal 2017 on a strong note, posting 12.5% sequential revenue growth compared to the third quarter,” stated LifeVantage President and Chief Executive Officer Darren Jensen.
“I am excited about the progress we have and are making against each of our key focus areas.
We are in a transformational period where we are building the assets to transform our business model into a technology powered solution for both distributors and consumers with enhanced tools, product solutions and business development activities.
As fiscal 2018 progresses, we will be rolling out a series of initiatives that support each of our key focus areas, investing in technologies that set us apart from our peers and investing in our distribution network.
We are laying the groundwork for both near-term growth and long-term success in a new economy with consumers that are more engaged and empowered than ever to leverage the LifeVantage offerings.”
Fourth Quarter Fiscal 2017 Highlights:
- Revenue increased 12.5% sequentially to $50.6 million when compared to $45.0 million in the third quarter of fiscal 2017 and decreased 4.5% when compared to $53.0 million in the fourth quarter of fiscal 2016;
- Revenue in the Americas increased 12.6% and revenue in Asia/Pacific & Europe increased 12.2%, both when compared sequentially to the third quarter of fiscal 2017. On a year over year basis, revenue in the Americas decreased 2.0% and revenue in Asia/Pacific & Europe decreased 11.9%. However, revenue in Japan increased 6.7% year over year;
- Active independent distributors and active preferred customers increased 1.6% and 0.9%, respectively, when compared to the third quarter of fiscal 2017;
- Adjusted EBITDA increased 100.6% to $3.3 million when compared to $1.6 million in the third quarter of fiscal 2017 and decreased 41.7% when compared to $5.6 million in the comparable period of fiscal 2016;
- Earnings per diluted share were $0.01, compared to $0.00 in the third quarter of fiscal 2017 and $0.17 in the fourth quarter of fiscal 2016;
- Adjusted earnings per diluted share were $0.04, compared to $0.02 in the third quarter of fiscal 2017 and $0.23 in the fourth quarter of fiscal 2016; and
- On September 1, 2017, the Company officially opened for business in Germany, the fourth largest direct selling market globally.
Fiscal Year 2017 Highlights:
- Revenue decreased 3.4% to $199.5 million, compared to $206.5 million in fiscal 2016;
- Revenue in the Americas decreased 4.7% and revenue in Asia/Pacific & Europe increased 0.8%, both when compared to fiscal 2016;
- Adjusted EBITDA decreased 33.4% to $13.1 million, compared to $19.7 million for fiscal 2016;
- Earnings per diluted share were $0.11, compared to $0.42 in fiscal 2016; and
- Adjusted earnings per diluted share were $0.27, compared to $0.64 in fiscal 2016.
About LifeVantage Corporation
LifeVantage Corporation is a science-based health, wellness and anti-aging company dedicated to helping people transform themselves internally and externally at a cellular level.
Their scientifically-validated product lines include Protandim® Nrf2 and NRF1 Synergizers, TrueScience® Anti-Aging Skin Care Regimen, Petandim® for Dogs, AXIO® Smart Energy and the PhysIQ™ Smart Weight Management System.
LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.
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